The Central Bureau of Investigation (CBI), often termed a “caged parrot”, last week searched the residences of three officers of the Securities & Exchange Board of India (Sebi) in connection with the Saradha Ponzi scheme. The news passed off with barely a murmur, but the hapless Sebi officials concerned would be left with dealing with ignominy and stress. To us, the silly CBI action on a scam that erupted a decade ago seems laughable. But it is not only sinister and perverse, but the CBI’s raid raises several larger issues that the government ought to address urgently.
It is intriguing
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